Malaysia must promote key sectors and connectivity during ASEAN chairmanship: scholar

As Malaysia prepares to take on the ASEAN chairmanship next year, it needs to lay the foundations now that can benefit the country over the next 20 years, leveraging key sectors including semiconductors, electric vehicles and digitalisation, one of the researchers said.

This is crucial as it ensures that the country’s interests are not only protected but also promoted,” said the director of the Institute of Malaysia and International Studies at the National University of Malaysia, Professor Dr Sufian Jusoh.

Speaking at a forum on the future of ASEAN under Malaysian leadership on Thursday, the scholar said Malaysia’s greatest achievement was becoming one of ASEAN’s founding members in 1967.

Now the company can be proud of itself because it has managed to become a leader in sectors such as banking and halal economy, he added.

Speaking on connectivity, Sufian praised Keretapi Tanah Melayu Bhd (KTMB) for connecting Malaysia, Thailand, Laos and China, stating that the service will connect new trade routes and many inland ports in the region, including Kontena Nasional Inland Clearance Depot (KNICD) in Selangor, Perlis Inland Port, Latkrabang Inland Port in Thailand and Thanaleng Dry Port in Laos, which are important trade hubs.

The service provided by KTMB can shorten the transit time of goods between countries. The estimated transit time from KNICD to Chongqing, China, is just nine days, compared with 14 to 21 days for ocean freight.

According to Sufian, Malaysia’s trade with ASEAN increased by 34% to CNY 772 billion in 2022 compared to the previous year.